Topsail Wealth Management LLC Buys 478 Shares of Invesco QQQ (NASDAQ:QQQ)

Topsail Wealth Management LLC boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,111 shares of the exchange traded fund's stock after buying an additional 478 shares during the period. Topsail Wealth Management LLC's holdings in Invesco QQQ were worth $1,459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of QQQ. NWI Management LP increased its stake in Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after purchasing an additional 3,648,000 shares during the period. GAMMA Investing LLC grew its position in shares of Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after buying an additional 1,868,580 shares in the last quarter. Senator Investment Group LP bought a new position in shares of Invesco QQQ during the 4th quarter worth $679,936,000. Spear Holdings RSC Ltd bought a new position in shares of Invesco QQQ during the 1st quarter worth $474,600,000. Finally, Asset Planning Services Inc. LA ADV grew its position in shares of Invesco QQQ by 100,517.9% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund's stock worth $437,375,000 after buying an additional 931,801 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of QQQ traded up $3.91 during midday trading on Wednesday, reaching $556.25. 42,940,948 shares of the stock were exchanged, compared to its average volume of 39,369,663. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $557.57. The company's 50 day moving average is $522.66 and its two-hundred day moving average is $505.17.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, June 23rd.

Invesco QQQ Profile

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust's investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.